UDC, organized every year by Upbit, South Korea's largest stock exchange, attracts attention as a potential listing tool. Cryptocurrency analysis platform Layergg has published an analysis on UDC and the potential of the exchange. Here is the detail.
To date, approximately 66 projects have participated in the UDC, and 37 were already listed at the KRW Fair before joining the UDC.
Of the remaining 29 projects, 13 were listed as KRW pair after UDC, thus reaching the level of 44.8% in proportion. Additionally, 17 were listed as KRW or BTC pair after UDC.
The power of Upbit listings is clearly evident in the market performance of various cryptocurrencies. Even for cryptocurrencies with high market caps, Koreans showed a strong reaction:
- LINK: Increased by 500%. (Market Cap #9 – July 16, 2020 – BTC pair)
- XTZ: Increased by 300%. (Market Cap #13 – July 16, 2020 – BTC pair)
- ALGO: Increased by 600%.
Early projects with low market value also saw significant growth:
- TONE: Increased by 1700%.
- MILK: It's up 1000%.
With UDC 2023 around the corner, the question arises: Which projects should we pay attention to?
KRW-pair (listed), BTC-pair (unlisted):
- Astar Network (ASTR): Recently listed on the KRW market by DAXA member Bithumb.
- Mina (MINA): After joining in 2022, it will join the UDC once again in 2023.
- Stargate Finance (STG): Listed on the KRW market by DAXA member Bithumb.
KRW-pair (unlisted), BTC-pair (unlisted):
- Gala (GALA): Listed on the KRW market by DAXA member Bithumb.
- LayerZero (ZRO): STG was already listed. A possible listing may occur after the airdrop.
- Smooth Love Potion (SLP): After joining in 2022, it will join the UDC once again in 2023. (AXS is already listed)
*This is not investment advice.
